Thursday, December 1, 2011

SoftLayer Adds Greylock's Strohm To Board, Trumpets Q3 Results

Dallas-based SoftLayer, the provider of managed and cloud hosting services, said today that it has added Greylock Partners' David Strohm to its board of directors. The privately held firm also said that its revenues hit $85M in the third quarter of 2011, and that the firm achieved $34M in EBITDA. SoftLayer CEO Lance Crosby said the firm is "just beginning to accelerate" its efforts. Strohm will help guide the firm in financial growth. The firms did not say if Greylock is taking a stake in SoftLayer, which is backed by private equity firm GI Partners, although it is unusual for a venture capitalists to take a board seat on a firm where they do not hold an equity position.